Stock Appreciation Rights Agreement - Stock Settled Sample Contracts

ROYAL GOLD, INC.
Stock Appreciation Rights Agreement - Stock Settled • November 1st, 2018 • Royal Gold Inc • Mineral royalty traders

Royal Gold, Inc., a Delaware corporation (the “Company”), hereby grants stock appreciation rights (“SARs”) relating to its common stock, $.01 par value per share (the “Stock”), to the Grantee named below subject to the restrictions and vesting conditions set forth in the attachment (the “Agreement”). The terms and conditions of the SARs are set forth in this cover sheet, the Agreement, and in the Company’s 2015 Omnibus Long-Term Incentive Plan, as it may be amended from time to time (the “Plan”).

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ROYAL GOLD, INC.
Stock Appreciation Rights Agreement - Stock Settled • May 2nd, 2019 • Royal Gold Inc • Mineral royalty traders

Royal Gold, Inc., a Delaware corporation (the “Company”), hereby grants stock appreciation rights (“SARs”) relating to its common stock, $.01 par value per share (the “Stock”), to the Grantee named below subject to the restrictions and vesting conditions set forth in the attachment (the “Agreement”). The terms and conditions of the SARs are set forth in this cover sheet, the Agreement, and in the Company’s 2015 Omnibus Long-Term Incentive Plan, as it may be amended from time to time (the “Plan”).

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